The Austrian Financial Market Authority (FMA) has imposed a fine of EUR 105,000 against Raiffeisen-Landesbank Tirol AG. The reason is for breaches against the Securities Supervision Act 2018 (WAG 2018; Wertpapieraufsichtsgesetz 2018) in conjunction with with rules set out in Delegated Regulation (EU) 2017/565. Specifically, Raiffeisen-Landesbank Tirol AG failed to establish appropriate security mechanisms for guaranteeing data confidentiality in relation to its compliance activities. In addition, Raiffeisen-Landesbank Tirol AG breached information obligations towards clients regarding ex-ante charging information for payments to third parties for third-party funds. The penal order is not final.
Update: 19.01.2026:
Raiffeisen-Landesbank Tirol AG has lodged an appeal with the Federal Administrative Court (BVwG; Bundesverwaltungsgericht) against the FMA’s penal order.
Update: 12.06.2026:
In its ruling of 02.06.2026, the Federal Administrative Court (BVwG; Bundesverwaltungsgericht) has confirmed the FMA’s penal order dated 10.12.2025 in full. The orderly final right of appeal was declared not to be permissible. The penal order is final.